Monday, 9 February 2009

Straight Talking

How about this 'no beating about the bush' comment on the current state of the UK banking system:

Financial Markets Analysis: Stocks Bounce, Where Next

Meanwhile greedy culpable bankers continue to reward themselves for failure with billions of tax payers monies across the globe. In the UK the Labour governments in-action is going to cost it the next election for allowing this to happen, after-all the banking rules and contracts have already been been broken in the aid of £800 billion of liabilities with more to come, the only contracts still being held up are those that allow bankers to be rewarded for destroying the British financial system.

This is totally outrageous and unforgivable.

The banks try to defend the indefensible with statements that they need to pay bonuses to attract the brightest and smartest. So smart are these people that they have destroyed the financial institutions that they worked for, any smarter and we may be looking at an Iceland style Bankrupt Britain, which therefore supports the view of dumbing down on the employees as well as the function of the banks, i.e. to focus on lending out deposited money without resorting to financial trickery to mis-price assets so as to reward bonuses for non existent profits.

Sounds about right to me.... Bankrupt Britain!

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